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CNBC
Nov 13, 2013 4:00am EST
us. what is going to happen today, helia? are they going to bring forward their forward guidance? >> i think they're right. they're going to make a few changes. the main thing we're expecting is that the forecast for that all-important threshold, the unemployment threshold, remember, forward guidance according to mark carney is all about saying that we won't consider hiking rates until unemployment hits 7%. we're about 7.7% at the moment. and they said the last inflation report that that wouldn't happen until the tail end of 2016. what we're expecting now is for them to say, actually, we think that's going to happen sooner than we first anticipated, sometime around the beginning of 2016. >> there are those out there, the mirror city, who are saying there's four quarters. so, in other words, this time next year. >> you're absolutely right. and i think that feeds into the debate about the bank of england's forward guidance, how useful it is and how useful their forecasts have been. because if you look at their growth forecast, which, again, they're expected to raise today, nudge up
CNBC
Nov 14, 2013 4:00am EST
alongside its release. for more on that, annette is with us in frankfurt. they don't like people saying they have expected surpluses of the eurozone, annette. >> not really. but if you're looking at the euro set figures, then you see that germany has to expect a surplus for the eurozone. they're having a surplus for the rest of the world, i.e. china as well as united states. so that whole imbalance thing within the eurozone, that really makes sense. so then it comes to really -- if you look at the numbers, and those numbers now for the third quarter are most likely going down very well in berlin and not too well in brussels and as well in washington. because as far as first time i can remember is that growth is supported by household government spending and very importantly, i have to stress that capital spending of german companies because during the run up to the elections, we heard a lot of companies complaining about high energy produces, insecurities, when it comes to tax hikes, and a lot of companies did want to spend inside germany, but they were threatening to go away. an
CNBC
Nov 25, 2013 4:00am EST
french car makers, whether that is a problem. >> peugot used to make a significant part of their business in iran and had up to a 40% share in that country. that is, indeed, very good news for the french car maker. i'm not sure that's the positive market change today reflecting the possible departure of the current ceo. it's reflecting the fact that the negotiations with dong phen are going on. they are likely to enrich the deal. they have requested a management reshuffle as part of the deal. also the ceo is facing increasing pressure from the peugot family. there's no question that the peugot family wants a change. the former chief operating officer of rono is about to join them. he could be the first in line to become the first in line to be the ceo of the company. now as part of the plan the risk part of the package for peugot would involve 4 billion capital. 3 billion from dongfeng and from the french state. all of this has not been officially confirmed yet. >> stefan, thanks for that. that's the latest out of france from the automakers. >>> take a look at where we are with b
CNBC
Nov 28, 2013 4:00am EST
promised us yesterday has moved up to berlin with more details. and you've been digging, annette. yes. those are quite interesting to read because, as well, what we are hearing from him is that they are planning on loosening a little bit of their pension provisions and getting money from the pension funds in order to finance their little presence, as well, when it comes to more pensions for certain groups of society. so it still remain toes be seen how they want to finance this. yesterday, angela merkel was as well saying all rely owes tax forecasts and we all know tax forecasts can change dramatically if, for example, the economy is deteriorating. but i'm joined now, as well, by our guest, allison smea, germany's correspondent for the "new york times." i would like to start off this interview with a question on chemistry. you were absorbing yesterday's press conference between the three new figures or at least angela merkel and the two boys. how do you think they get along? >> i think what we saw yesterday at the news conference was quite a determined display between the social democ
CNBC
Nov 3, 2013 4:00am EST
can't just show up at this, you know, party and not have something for everybody." so, i want us to have an action plan so that we don't totally undo all the good that we have done up until this point. now, here's what's really important to first understand -- most of the gifts that you give people, they do not want. i mean that. somebody always -- people tend to give me candles. people, i don't want any more candles. i have enough candles. so, why don't we start being smart. first of all, you need to plan how much money can you afford to give in total. then you need to make a list. how many people does this amount of money need to cover? you will divide that amount by the number of people you're gonna give gifts to. let's say it comes out to $25. so, you can spend $25 on each person you want to give a gift to. what i want you to do after that is i want you to go to that person, and i want you to ask them to write down 5 things that they really, really want that are $25 or less. now, they'll have things that they really want. that is their wish list. and if you really want to be san
CNBC
Nov 2, 2013 4:00am EDT
company's underwriter goldman sax might increase the number of shares. i'm using the market share. if twitter is valued at less than that buy it and buy more on the way down. if it's valued at more than that, take a pass. even though i trust the banker and the new york stock exchange, i trust both of them more than i trusted the supporting cast for facebook. all right. how about this employment number? we got to have a game plan for that too, right? no one expected a barnburner of a number given the federal government's knuckle headed shutdown and brush with financial death. we don't expect a lot of jobs to be created. people think the only reason it goes up at all is they continue to keep rates low then we should be fine with a weak number, right? still, no. when we get that number people say holy cow this economy is so weak. they'll get really scared and you know what they do, sell, sell, sell. it will be boring and there will be more sellers. no, my solution is if you're at all nervous about friday, under both scenarios, you're going to get -- >> sell sell sell. >> unless the numbe
CNBC
Nov 11, 2013 4:00am EST
inflation in the near term. >> joining us is jake from the catholic charities organization and he's joining us from manila. joe, what is the time frame for relief aid to get to those who need it? >> we haven't seen it on the ground. this is a logistical challenge. there are no communications. people are lining up. they're trying to get relief items. there's a lack of coordination with other agencies trying to get aid on the ground. this is a team effort here. we're trying to pull wide resources together. it will take us a couple of more days to get on the ground and get things set up and a couple more weeks, really, to get to all the places that need it. >> what do we know about just how things are in the city? we have some disruption on the phone, joe. we'll try to sort that out, joe. thank you very much. it is obviously a difficult situation there. at the same time we're also hearing that today that a weekend typhoon hit vietnam. it yanked boats from his moorin moorings. the storm will likely be downgraded to a tropical depression as it heads north into china. for the very latest
CNBC
Nov 7, 2013 4:00am EST
? send us your thoughts, your e-mail, worldwide@cnbc.com, tweet direct to me @rosswestgate or @cnbcwex. >>> now, besides twitter, plenty of focus on central banks today. flagging inflation in europe's peripheral countries is expected to dominate at the cb's rate decision meeting in frankfurt. geoff and anna have taken up their usual perch in frankfurt and join us for more. big question, guys. as we see the euro at a rate that just isn't just a five at the economic box, does the ecb have any tools in the box to bring it down? >> well, i guess the euro is a challenge here, but depending on who you lisp to at the moment, it's a question of what is happening in the united states and japan and elsewhere rather than what the ecb is doing or what individual european policymakers can do at this point. but the euro is a part of the problem as is the very weak growth story. >> the recovery is still intense. it's gradually progressing, but it's still weak, uneven and fragile. >> we must find a way to close this financing gap. and there is absolutely no way that it can be done in way of r
CNBC
Nov 15, 2013 4:00am EST
right. that was janet yellen yesterday. joining us now is brittany jones from wrathbone. good morning to you. >> good morning. >> quantitative easing can't continue indefinitely, but presumably it's going to continue for long enough, isn't it? >> yeah. obviously, they highlighted the -- bernanke highlighted tapering could start in september. that was taken off the table. now it's talking about more taper. but we've got to remember that for tapering doesn't necessarily mean the end of qe. they can still taper. >> this is what the fed wants to get out of the way. then start pricing in tightening because of the fed's dilemma. >> i think they're going to change some of the hurdles. we've seen it from the bank of england. we've had the unemployment rate and suddenly the bank of england's forward guidance might change. the i think the fed will do the same. so it will possibly bring the unemployment target down. they will say they won't raise rates if inflation is below a certain level. tapering and the end of qe does not necessarily mean the end of zero rates, as well. >> does the ten-year
CNBC
Nov 4, 2013 4:00am EST
. >> one of the great opportunities for us with the 175 aircraft order says alatalia will continue growing. the italians will continue to bail it out. it will continue to create huge opportunities for us. >> air italia seems to be responsible for a lot. you can see the stock price in air france klm drifting 1.6%. alcatel-lucent is down 6.5%. we're going to have more on both of those french docs when we catch up with stefan in paris in half an hour's time. hsbc, we had the numbers out this morning. in line with expectations. 20% higher going through the stock price today. 2.5% is what we're seeing. i want to move on to bond rates and show you what we're seeing. we have a lot of risk and loving attitude. there has been a pickup in the ten year treasury, 2.61%. huge focus on the u.s.gdp. the treasury had pushed lower. we're climbing back out there and the markets are wondering whether we're looking at a december table or if this is a q 1 story. the italia market, 4.11%. holding at the low 4s on the yield. you can see how wide the differential is. gilts, we have 2 point be point 61%. the gap h
CNBC
Nov 8, 2013 4:00am EST
behind closed doors, but eunice will give us a preview at 10:15 cet. >>> in a bid to boost finances and dial into the brazilian market, our guest says people might be overlooking the fact that there is still quite a lot of potential in italy. that's coming up in half an hour. >>> plus, could shale gas energize the fuel industry? we'll be joined by a strong advocate of the technology, the so-called fact master. >>> and at 11:20 cet, we'll be joined by the founder of good night to talk about the massive opportunity he thinks is presented by big data, created by the continued growth of digital. as i mentioned, that's not enough. yes, folks, it is jobs friday stateside. government shutdown expecting to make the report one of the weakest of the year. we'll preview the employment numberes and how the fed is going to reaction to it. that's coming at 11:30 cet. as ever, if you've got any thoughts, comments or questions, we would love to hear from you. e-mail us, worldwide@cnbc.com. >>> but first, the s&p has downgraded france's credit rating for the second time in nearly two years. at the s
CNBC
Nov 6, 2013 4:00am EST
:20 cet. if you have any thoughts about anything we're discussing today, please e-mail us at cnbc.com. tweet me, @rosswestgate, as well. >>> olsom says it plans to cut 1300 jobs, mainly in europe. a move that means it doesn't need to raise fresh capital. the firm made its announcement as it revealed another big day in french earnings. stephane, what has been investors' reactions about what alstom had to say. >> alstom wants to focus on the cost reduction after announcing for the first half of the year a 20% contract job of its order. the company will cut 1,300 jobs worldwide, mainly in europe. it's going to launch an asset disposal program in the transport sector. it's planning to raise between $1 billion and $2 billion euros from the sale of its minority stake transports unit, chkt be in the stock market at some point. the company is struggling with austerity policies in europe. it's also face ago softer growth from emerging countries. for the first half of the year, net profit declined by 3%. at 375 million euros, although, ross, it was a bit stronger than expected. and also this mo
CNBC
Nov 19, 2013 4:00am EST
joining us today. the dow is up 22% for the year. carl icahn is wondering whether we've gone too far too fast. >> well, i think it's all about the gas that's been provided to markets in the liquidity rush. what i mean by that is the world is gradually progressing. it looks like a slightly safer place, but a liquidity push coming to markets is still there. we had a big debate last year, janet yellen in her hearings. what policy changes are we going to see from the fed? nothing substantial for a while. with most equity markets looking pretty good, european equities paying at 3% to 4%. with this liquidity push still coming from policy providers, i don't think we're at the end of this party yet. >> are blue chips looking for attractive? they say the s&p valued closer to operating profit, price earnings ratios about twal equal to the long run average. >> i think collectively, the story is one of do i believe in cyclicals, do i believe in value. if you're a value investor, you're going to go with large cap, you're going to go with global plays. there will always be small caps which are the sto
CNBC
Nov 26, 2013 4:00am EST
cutting closer to zero. we have this safety buffer that protects us from entering into the danger zone when it comes to inflation numbers. and we'll be monitoring very carefully these numbers. the governing council of the ecb has been clear, saying that he's ready to keep rates at a low level for an extended period of time and if necessary, lower, if we see this safety buffer being further eroded. but that's not the most likely scenario, in our view. >> if a deflationary spiral is not something of major concern to you, why are your fellow policymakers citing the need for possible negative deposit rates? >> well, negative deposit rates is a possibility. we've been clear already a month ago that this has been discussed technically investigated, legally investigated, so the ecb is ready. now, that said, that's only one instrument is a toolbox. so we have a range of instruments that we would be ready to use if we see further rates to price stability materializing. but as i said, the main scenario is a scenario where inflation would value austerity. >> joining us for the first part of today
CNBC
Nov 27, 2013 4:00am EST
off on the deal. annette is joining us from frankfurt with the details. is there any debate about whether the spd will want to sign off on this? >> well, actually, there is a lot of rumor that the social democrat party members are not really happy with such a thing as a grand coalition. there is still a risk that they might say no and that would be it. but i really think that this is not a likely scenario because the party leaders of the social democrats are really campaigning all over the country in order to convince party members to say yes to the grand coalition. because they now have something to show off, at least. looking at the minimum wage agreement of 80 to 50 to be introduced from 2015 onward, that is actually really something towards the social democrats insisted on. at the other side we have something which is net positive for the christian democrats. this is no tax hikes with a grand coalition. so there is something in for everybody among politicians in berlin. so what is not to like about it? what is not on to like about it is that we'll most likely see probably a st
CNBC
Nov 12, 2013 4:00am EST
you so much for joining us. richard fisher there saying that the fed koovk somewhat clearer in terms of its communication. would you agree with that? >> it certainly creates some uncertainty. now the markets are asking themselves, when? how much? what factor will influence? last week we had a good employment number and the markets reacted negatively, which is really strange. so these -- i think these delays of the tapering has to be resolved sooner or later. >> it is clear that the fed to some extent by continuing to buy bonds in the market, by not tapering, it could create asset bubbles and one of the fed members is quite concerned about that over the last couple of months. do you think that there is the risk of an asset bubble? >> well, if the economy recovers and strengthens and you continue to inject liquidity in the economy, that means that you're becoming more and more accommodating. and so the risk of fueling a bubble is certainly there. >> asset bubbles are great, aren't they, because equity investors feel better about themselves, they've got more wealth, they can spend more.
CNBC
Nov 1, 2013 5:00am EDT
today's edition of "worldwide exchange." if you just joined us in the states, as well, welcome to the start of your global draid trading day. the ftse down 46 points. a lot of focus in rbs will come on to that. right now, down 0.1%. the xetra dax is currently down 0.2%. and here in france, the cac 40 is down 0.3%. we're focused on renault shares taking a hit on news from its japanese partner nissan. and so renault down 3.7%. nissan, down after the auto giant reported earnings and cut its profit outlook for the year by 20%. nissan was expected to report its second quarter numbers tuesday, but moved the announcement forward. you can see nissan says down 2%. our tokyo bureau chief karen geogi has been in japan at the news conference. sony down 11% at the moment after the company slashed its earnings outlook, as well. head to our website cnbc.com to find out why some strategists are saying that time is now running out for the japanese electronics giant to prove that it can engineer a turn around of its struggling business. as for the rest of the chinese markets, the shanghai composite
CNBC
Nov 5, 2013 4:00am EST
business. there's a huge opportunity for us here in the uk. we're very focused on america where we're seeing great success. and we're just beginning a strategy in asia. >> now, the chairman of imperial tobacco is going to retire. the world's fourth biggest tobacco company post ago net profit of 937 million pounds for the year to september. the stock up 11.8%. come up, we'll hear from the ceo alleyson cooper. mean wile, whole saul down 1.8% in switzerland. profits for the world's biggest cementmaker is under stress. the firm admitting its sales this year will not match the previous year after the demand saw third quarter sales down 8%. >>> now, csm is up 2.5%. the dutch foods and chemicals group reporting third quarter operating profits in line with expectations. the word world's leading vitaminmaker stuck to 1.4 billion euros. the cfo has been talking through the numbers. >> they delivered 27% higher ebita. and it's really all businesses. there is not a single business which is below last year. it's 23% plus in life sciences. >> in germany, fresenia, the health care group confirming i
CNBC
Nov 29, 2013 4:00am EST
confirms the need for us to push forward some of these reforms so we can get bigger and better growth figures. of course, you know, the other two rating agencies have only recently confirmed the aaa status for the netherlands and now s&p has downgraded us to aa plus. i'm disappointed by that fact. >> s&p, though, had better news for cypress. it raised the country's sovereign credit rating to b minus/b. adding that the nation's external position was improving. we'll be joined by s&p's chief sovereign ratings offer at 10:15 cet. >>> now, we have helga. let's kick off on your views of the dutch economy. the outlook is stable. how much pressure are they under? >> they are under a bit of pressure. the economy has been in a recession early this year. the government ought to deliver some further reforms. the government ought to find ways to make sure that the dutch economy is no longer prone to boom-bust cycles. all in all, it's a pretty solid economy still. >> yeah. at the end of the day, they're only one notch below germany, to put it into perspective. >> arguably, being below germany at t
CNBC
Nov 18, 2013 4:00am EST
lead the race with over 100 billion dollars in deals. >> we do it when our customers ask us, but it was a big first day. we're not greedy. we'll see how the rest of the show pans out. >> i prefer to build airplanes and deliver them out this decade. >>> shares in aberdeen so i remembers as the firm becomes the biggest asset manager. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> and a very good morning to you and evening to you if you're watching in asia. going to kick off the show, all about china growth. marginally beat expectations, 7.8% in the third quarter beat by the old china. the challenge for the country is whether it can change its economy to one driven by consumption. it was mapped out by the country's leaders on friday. some of the sweeping reforms included relaxing the one child policy, introducing welfare system reforms to help free movement of labor and encourage urbanization plus stepping up financial reforms to let market forces play a greater role. for more on the changes and controversial one child policy, eunic
CNBC
Nov 22, 2013 4:00am EST
see some who are calling us here today, just want to tell them that the way they work together is truly very encouraging. it's conducive to mutual trust and to collaboration that is inducive of further progress throughout this difficult exercise. but the exercise here is have a supervisory risk assessment, an asset quality review and a stress test. i will not go into the details here as they are being communicated separately to groups of banks. we already had two meetings. this afternoon there will be a third meeting, and so, we will complete this first round of communication with the banking industry. this exercise is going to be comprehensive because it will cover 128 banks and about 85% of the assets of countries participating in this. it will be consistent because it will be centrally led with a regalist common methodology and there will be no room for perceptions of national bias. there should be no doubt about the credibility and riggor of te assessment or comparability of results. let me add here that by end january, we expect to announce the key parameters of the stress te
CNBC
Nov 20, 2013 4:00am EST
discounts will show up in the short-term and end up in tears in the long run. join us for that at 11:45 cet. if you have any thoughts, questions, comments, anything about the show, e-mail us worldwide@cnbc.com. >>> fed chairman ben bernanke says the central bank is committed to its easing monetary policy for as long as necessary. that could mean holding rates near zero until well after u.s. unemployment falls below the threshold of 6.5%. bernanke says the wall street economy has made significant process. it's still far from where officials want it to be. >> i agree with the sentiment expressed by my colleague, janet yellen expressed last week that the surest path to monetary policy is to do all we can to promote a morrow bust policy. the fomc remains committed to maintain a highly accommodative policy for as long as needed. >> the fed decided in september and october to maintain asset purchases of $85 million a month. bernanke says they want evidence of durable growth before scaling back that program. as for what life after the fed may hold, he may follow alan greenspan's path by writing bo
CNBC
Nov 21, 2013 4:00am EST
compile these numbers and joins us now. chris, how on concerned should we be about france? >> it is a concern that it's slipping in the wrong direction. risk of recession here after small declining gdp in the third quarter. we're running at a level consistent with 0.2% contraction in french gdp. so that is a concern. it's a really difficult story, though, because the survey data is not just ours die verged from the gdp data earlier this year which shows a surprising uplift in the second quarter of the french economy. we didn't get that at all. our picture is a french economy that has turned around alongside the periphery and it's now bumping along at a stagnant level. the danger is you're going to get those headlines which is signaling this renewed recession and that's going to damage business confidence there. >> yeah. and we come at that point when a lot of incident vesters have ridden the cyclical pickup earlier in the year. they've poured money into european equities now wonder wlg they got it a bit wrong. >> well, i think you overplay this for two reasons. one, these are very min
Search Results 0 to 22 of about 23